AI in IoT Market

AI in IoT Market by Component (Platforms, Software Solutions, and Services), Technology (ML and Deep Learning, and NLP), Vertical (Transportation and Mobility, Energy and Utilities, Manufacturing, and Retail), and Region - Global Forecast to 2024

Report Code: TC 7047 Apr, 2019, by marketsandmarkets.com

[168 Pages Report] MarketsandMarkets forecasts the global AI in IoT market size to grow from USD 5.1 billion in 2019 to USD 16.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 26.0% during the forecast period. The major factors expected to drive the market are the need to efficiently process huge volumes of real-time data being generated from IoT devices and reduce maintenance cost and downtime. 

AI in IoT Market

In the AI in IoT market by component, the software solutions segment to grow at the highest CAGR during the forecast period

Most of the key vendors offer AI in IoT software solutions to customers. These software solutions are designed to meet interoperability challenges that arise due to varied heterogeneous devices, and manage large volumes of data and its security and privacy. They help in mitigating interoperability issues and create flexibility to effectively manage various business functions.

In the AI in IoT market by technology, the ML and deep learning technology segment to hold a larger market size during the forecast period

ML can become a robust analytical tool for vast volumes of data. The combination of ML and edge computing can filter most of the noise collected by IoT devices and leave the relevant data to be analyzed by edge and cloud analytic engines.

AI in IoT Market

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global AI in IoT market, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. In APAC, the highest growth rate can be attributed to the heavy investments made by private and public sectors for enhancing their AI and IoT technologies, resulting in the increased demand for AI in IoT solutions for gaining customer insights in real time. North America is expected to be the leading region in terms of adopting and developing AI in IoT. The growing investments in AI and IoT technologies, increasing presence of AI in IoT vendors, and rising government spending on innovative technologies such as AI in IoT are expected to contribute to the market growth during the forecast period.

Key AI in IoT Market Players

The major vendors in the global AI in IoT market include Google (US), Microsoft (US), IBM (US), AWS (US), Oracle (US), SAP (Germany), PTC (US), GE (US), Salesforce (US), Hitachi (Japan), Uptake (US), SAS (US), Autoplant Systems Pvt Ltd. (India), Kairos (US), Softweb Solutions (US), Arundo (US), C3 IoT (US), Anagog (Israel), Imagimob (Sweden), and Thingstel (India). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to further expand their presence in the global market.

IBM is a significant player that delivers solutions in the AI in IoT market. The company offers the IBM Watson IoT platform that helps businesses harness real-time data for offering effective customer experiences. It is focusing on scaling its platforms, delivering productivity through automation, infusing AI into its offerings, and investing in cloud infrastructure. Moreover, it is focused on product innovations and allocates a high budget for R&D. The company’s R&D expenditure increased substantially in 2017 as compared to 2015. In 2017, it invested 7.3% of its annual revenue in R&D. In addition to this, the company has a vast partner ecosystem consisting of resellers, managed service providers, alliance partners, embedded system partners, and distributors who help in delivering efficient and cost-effective solutions to its global customers. Its wide-ranging proficiency across industries, strong global footprint, and the unique approach of combining technologies and services help clients achieve business outcomes.

Recent Developments

  • In October 2018, Microsoft partnered with Qualcomm Technologies to create a vision AI software that can be used in the areas such as retail, manufacturing, logistics, and smart home for developers. The kit is a camera-based device that integrates IoT, edge, and AI from Microsoft with Qualcomm Vision Intelligence 300 Platform and Qualcomm Neural Processing SDK for AI for on-device edge computing.
  • In June 2018, IBM acquired Oniqua Holdings Pty Ltd., a global innovator in Maintenance Repair and Operations (MRO) Inventory Optimization solutions and services focused on mining, oil and gas, transportation, utilities, manufacturing, and other asset-intensive industries. The acquisition would strengthen IBM’s IoT platform capabilities for helping businesses proactively maintain vital assets.
  • In March 2018, Google collaborated with FogHorn Systems, a developer of edge intelligence software, to simplify the deployment process and maximize the business impact of Industrial IoT (IIoT) applications. The companies would integrate FogHorn Systems’ lightning edge analytics and ML platform with Google’s Cloud IoT Core.

Critical questions the report answers

  • What are the current trends that are driving the AI in IoT market?
  • In which application areas the verticals are deploying AI in IoT?
  • Where will all these developments take the industry in the mid- to long-term?
  • Who are the top vendors in the market and what is their competitive analysis?
  • What are the drivers and challenges of the AI in IoT market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primary Profiles
                    2.1.2.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Market Forecast
    2.5 Assumptions for the Study
    2.6 Limitations of the Study

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 36)
    4.1 Attractive Market Opportunities in the AI in IoT Market
    4.2 Market Top 3 Verticals
    4.3 Market By Region
    4.4 Market in North America, By Component and Technology

5 Market Overview and Industry Trends (Page No. - 39)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Effective Management of Data Generated From IoT Devices to Gain Valuable Insights
                    5.2.1.2 Reduced Maintenance Cost and Downtime
           5.2.2 Restraints
                    5.2.2.1 Lack of Skilled Workforce
           5.2.3 Opportunities
                    5.2.3.1 Real-Time Monitoring to Deliver an Exceptional Customer Experience
           5.2.4 Challenges
                    5.2.4.1 Data Security and Privacy Issues
                    5.2.4.2 Maintenance and Update Issues
    5.3 Use Cases
           5.3.1 Introduction
                    5.3.1.1 Use Case: Scenario 1
                    5.3.1.2 Use Case: Scenario 2
                    5.3.1.3 Use Case: Scenario 3
                    5.3.1.4 Use Case: Scenario 4
                    5.3.1.5 Use Case: Scenario 5
                    5.3.1.6 Use Case: Scenario 6
    5.4 Regulatory Implications
           5.4.1 Introduction
           5.4.2 General Data Protection Regulation
           5.4.3 Health Insurance Portability and Accountability Act
           5.4.4 Federal Trade Commission
           5.4.5 Federal Communications Commission
           5.4.6 International Organization for Standardization/International Electrotechnical Commission Standards
                    5.4.6.1 ISO/ICE JTC 1
                    5.4.6.2 ISO/IEC JTC 1/SC 42
                    5.4.6.3 ISO/IEC JTC1/SC3 1
                    5.4.6.4 ISO/IEC JTC1/SC2 7
           5.4.7 CEN/ISO
                    5.4.7.1 CEN/CENELEC
           5.4.8 NIST
           5.4.9 Eprivacy

6 AI in IoT Market, By Component (Page No. - 49)
    6.1 Introduction
    6.2 Platforms
           6.2.1 Device Management
                    6.2.1.1 Growing Demand for Device Management Platform to Effectively Manage, Track, and Secure IoT Devices Used in Organizations
           6.2.2 Application Management
                    6.2.2.1 Need to Automatically Manage Applications in the Cloud to Pave the Way for Deployment of the Application Management Platform
           6.2.3 Connectivity Management
                    6.2.3.1 Growing Demand to Manage the Entire Network of the Organization for Greater Security and Safety
    6.3 Software Solutions
           6.3.1 Real-Time Streaming Analytics
                    6.3.1.1 Growing Demand for Real-Time Streaming Analytics Software Solutions By Organizations to Effectively Detect Anomalies in Real Time
           6.3.2 Security
                    6.3.2.1 Evolution of Various Malware and Cyber-Attacks Paving the Way for Enterprises to Adopt Security Software Solutions in the AI in IoT Market
           6.3.3 Data Management
                    6.3.3.1 Growing Demand for AI in IoT to Effectively Manage the Huge Amount of Data Generated From IoT Devices
           6.3.4 Remote Monitoring
                    6.3.4.1 Increasing Demand to Effectively Monitor and Manage Business Operations Paving the Way for Enterprises to Adopt Remote Monitoring Software Solutions in the Market
           6.3.5 Network Bandwidth Management
                    6.3.5.1 Growing Demand for Network Bandwidth Management Solutions for Effective Network Monitoring and Performance of the Connected Devices
           6.3.6 Edge Solution
                    6.3.6.1 Increasing Demand for Speech to Text Processing, and Speech Recognition Technology to Provide Growth Opportunities for Edge Solutions
    6.4 Services
           6.4.1 Professional Services
                    6.4.1.1 Deployment and Integration
                               6.4.1.1.1 AI in IoT Vendors to Offer Deployment and Integration Services to Effectively Overcome System-Related Issues
                    6.4.1.2 Support and Maintenance
                               6.4.1.2.1 Growing Deployment of AI in IoT Platforms to Increase the Demand for Support and Maintenance Services
                    6.4.1.3 Training and Consulting
                               6.4.1.3.1 Technologies Involved in Implementing AI in IoT Solutions to Boost the Growth of Training and Consulting Services
           6.4.2 Managed Services
                    6.4.2.1 Growing Need to Maintain and Update AI in IoT Software to Increase the Demand for Managed Services

7 AI in IoT Market, By Technology (Page No. - 57)
    7.1 Introduction
    7.2 Ml and Deep Learning
           7.2.1 Growing Demand to Automate Communication and Create Personalized Experiences to Increase the Adoption of AI in IoT Among Enterprises
    7.3 Natural Language Processing
           7.3.1 Natural Language Processing to Grow at A Rapid Pace in Coming Years

8 AI in IoT Market, By Vertical (Page No. - 60)
    8.1 Introduction
    8.2 Manufacturing
           8.2.1 Predictive Maintenance
                    8.2.1.1 Need to Track, Diagnose, and Monitor Machines to Fuel the Growth of the Predictive Maintenance Application in the Manufacturing Vertical
           8.2.2 Process Optimization
                    8.2.2.1 Need to Automate Production Process to Fuel the Growth of the Process Optimization Application in the Manufacturing Vertical
           8.2.3 Supply Chain Management
                    8.2.3.1 Growing Need to Optimize Inventory for Better Customer Service to Pave the Way for Supply Chain Management Application in the Manufacturing Vertical
           8.2.4 Others
    8.3 Energy and Utilities
           8.3.1 Smart Grid Management
                    8.3.1.1 Growing Demand for Effective Utility Grid to Fuel the Growth of Smart Grid Management Applications in the Energy and Utilities Vertical
           8.3.2 Power Usage Analytics
                    8.3.2.1 Growing Demand for Personalized Customer Experience to Fuel the Growth of Power-Usage Analytics Applications in the Energy and Utilities Vertical
           8.3.3 Others
    8.4 Transportation and Mobility
           8.4.1 Connected Vehicles
                    8.4.1.1 Connected Vehicles to Grow at A Rapid Pace in Coming Years
           8.4.2 Fleet Management
                    8.4.2.1 Growing Need to Personalize Driving Experience to Fuel the Growth of the Fleet Management Application in the Market
           8.4.3 Asset Tracking and Performance Management
                    8.4.3.1 Increasing Need to Improve Vehicles Performance and Minimize Risks to Fuel the Growth of Asset Tracking and Performance Management Applications in the Market
           8.4.4 Others
    8.5 Banking, Financial Services, and Insurance
           8.5.1 Fraud and Risk Management
                    8.5.1.1 Growing Risk in Handling Huge Amount of Data to Fuel the Demand for Fraud and Risk Management Application in the Market
           8.5.2 Investment Prediction
                    8.5.2.1 Growing Demand to Predict Future Trends and Identify Market Trends to Drive Investment Prediction Application Segment
           8.5.3 Payment Transaction Security
                    8.5.3.1 Increasing Demand to Secure Online Transactions to Fuel the Growth of Payment Transaction Security Applications in the Market
           8.5.4 Others
    8.6 Government and Defense
           8.6.1 Smart Cities
                    8.6.1.1 Smart Cities to Grow at A Rapid Pace in the Coming Years
           8.6.2 Autonomous Defense System
                    8.6.2.1 Government and Defense Vertical to Adopt AI in IoT Solutions to Automate the Defense System
           8.6.3 Others
    8.7 Retail
           8.7.1 Smart Stores
                    8.7.1.1 Increasing Need to Enhance Customer Experience to Fuel the Smart Stores Applications in the Market
           8.7.2 Inventory Planning
                    8.7.2.1 Increasing Need to Manage Warehouse Space to Fuel the Inventory Planning Applications in the Market
           8.7.3 Upsell and Cross-Channel Marketing
                    8.7.3.1 Increasing Demand for Recommendation at the Right Time and Place to Fuel the Growth of Upsell and Cross-Channel Marketing in the Market
           8.7.4 Others
    8.8 Healthcare and Life Sciences
           8.8.1 Remote Patient Monitoring
                    8.8.1.1 Growing Demand for Monitoring Patient Health in Real Time to Fuel the Growth of Remote Patient Monitoring Applications in the Market
           8.8.2 Personalized Treatment
                    8.8.2.1 Personalized Treatment to Grow at A Rapid Pace in Coming Years
           8.8.3 Others
    8.9 Others

9 AI in IoT Market, By Region (Page No. - 81)
    9.1 Introduction
    9.2 North America
           9.2.1 United States
                    9.2.1.1 Need to Extract Maximum Value From Smart Devices to Fuel the Demand for AI in IoT Solutions in the US
           9.2.2 Canada
                    9.2.2.1 Increase in Investments and Research Activities to Drive AI in IoT Adoption in Canada
    9.3 Europe
           9.3.1 United Kingdom
                    9.3.1.1 Government Focus on Innovation and Research to Fuel the Adoption of AI in IoT Solutions in the UK
           9.3.2 Germany
                    9.3.2.1 Skilled Workforce, Strong Infrastructure, and Increasing Investments to Drive the AI in IoT Adoption in Germany
           9.3.3 France
                    9.3.3.1 Focus on R&D and Heavy Inflow of Capital From Global Players and Investors to Drive the AI in IoT Market in France
           9.3.4 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
                    9.4.1.1 Increasing Focus on the Advancement of IoT Solutions By Integrating Ml and Deep Learning Technologies to Drive the Adoption of AI in IoT Solutions in China
           9.4.2 Japan
                    9.4.2.1 Government Initiatives, Such as Society 5.0, to Create the Growth Potential for AI in IoT in Japan
           9.4.3 Rest of Asia Pacific
    9.5 Middle East and Africa
           9.5.1 Israel
                    9.5.1.1 Regulatory Compliance Backed By the Presence of IoT and AI Software Vendors to Lead the Adoption of AI in IoT Solutions
           9.5.2 UAE
                    9.5.2.1 Complex Legal, Regulatory, and Economic Resolutions to Compel Organizations to Adopt AI in IoT Solutions
           9.5.3 Rest of Middle East and Africa
    9.6 Latin America
           9.6.1 Brazil
                    9.6.1.1 Brazil to Witness the Highest Growth Rate in the AI in IoT Market in Coming Few Years
           9.6.2 Mexico
                    9.6.2.1 Mexico to Account for the Largest Market Size in the AI in IoT Market in the Region
           9.6.3 Rest of Latin America

10 Competitive Landscape (Page No. - 121)
     10.1 Competitive Leadership Mapping
             10.1.1 Visionary Leaders
             10.1.2 Innovators
             10.1.3 Dynamic Differentiators
             10.1.4 Emerging Companies
     10.2 Strength of Product Portfolio
     10.3 Business Strategy Excellence

11 Company Profiles (Page No. - 125)
     11.1 Introduction
(Business Overview, Platforms & Solutions, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     11.2 IBM
     11.3 Microsoft
     11.4 Google
     11.5 PTC
     11.6 AWS
     11.7 Oracle
     11.8 GE
     11.9 Salesforce
     11.10 SAP
     11.11 Hitachi
     11.12 Uptake
     11.13 SAS
     11.14 Autoplant Systems India Pvt. Ltd.
     11.15 Kairos
     11.16 Softweb Solutions
     11.17 Arundo
     11.18 C3 IoT
     11.19 Anagog
     11.20 Thingstel
     11.21 Imagimob

*Details on Business Overview, Platforms & Solutions, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 157)
     12.1 Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (74 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Global AI in IoT Market Size and Growth Rate, 2017–2024 (USD Million, Y-O-Y %)
Table 4 Market Size By Component, 2017–2024 (USD Million)
Table 5 Market Size By Technology, 2017–2024 (USD Million)
Table 6 Market Size By Vertical, 2017–2024 (USD Million)
Table 7 Manufacturing Market Size, By Application, 2017–2024 (USD Million)
Table 8 Energy and Utilities Market Size, By Application, 2017–2024 (USD Million)
Table 9 Transportation and Mobility Vertical Market Size, By Application, 2017–2024 (USD Million)
Table 10 Banking, Financial Services, and Insurance Market Size, By Application, 2017–2024 (USD Million)
Table 11 Government and Defense Vertical Market Size, By Application, 2017–2024 (USD Million)
Table 12 Retail Market Size, By Application, 2017–2024 (USD Million)
Table 13 Healthcare and Life Sciences Market Size, By Application, 2017–2024 (USD Million)
Table 14 AI in IoT Market Size, By Region, 2017–2024 (USD Million)
Table 15 North America: Data Traffic (Peta Bytes Per Month) Through Connected Devices
Table 16 North America: Market Size By Component, 2017–2024 (USD Million)
Table 17 North America: Market Size By Technology, 2017–2024 (USD Million)
Table 18 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 19 North America: Manufacturing Market Size, By Application, 2017–2024 (USD Million)
Table 20 North America: Energy and Utilities Market Size, By Application, 2017–2024 (USD Million)
Table 21 North America: Transportation and Mobility Market Size, By Application, 2017–2024 (USD Million)
Table 22 North America: Government and Defense Market Size, By Application, 2017–2024 (USD Million)
Table 23 North America: Healthcare and Life Sciences Market Size, By Application, 2017–2024 (USD Million)
Table 24 North America: Banking, Financial Services, and Insurance Market Size, By Application, 2017–2024 (USD Million)
Table 25 North America: AI in IoT Market Size, By Retail, 2017–2024 (USD Million)
Table 26 North America: Market Size By Country, 2017–2024 (USD Million)
Table 27 Europe: Data Traffic (Peta Bytes Per Month) Through Connected Devices
Table 28 Europe: Market Size By Component, 2017–2024 (USD Million)
Table 29 Europe: Market Size By Technology, 2017–2024 (USD Million)
Table 30 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 31 Europe: Manufacturing Market Size, By Application, 2017–2024 (USD Million)
Table 32 Europe: Energy and Utilities Market Size, By Application, 2017–2024 (USD Million)
Table 33 Europe: Transportation and Mobility Market Size, By Application, 2017–2024 (USD Million)
Table 34 Europe: Government and Defense Market Size, By Application, 2017–2024 (USD Million)
Table 35 Europe: Healthcare and Life Sciences Market Size, By Application, 2017–2024 (USD Million)
Table 36 Europe: Banking, Financial Services, and Insurance Market Size, By Application, 2017–2024 (USD Million)
Table 37 Europe: Retail Market Size, By Application, 2017–2024 (USD Million)
Table 38 Europe: AI in IoT Market Size, By Country, 2017–2024 (USD Million)
Table 39 APAC: Data Traffic (Peta Bytes Per Month) Through Connected Devices
Table 40 Asia Pacific: Market Size By Component, 2017–2024 (USD Million)
Table 41 Asia Pacific: Market Size By Technology, 2017–2024 (USD Million)
Table 42 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 43 Asia Pacific: Manufacturing Market Size, By Application, 2017–2024 (USD Million)
Table 44 Asia Pacific: Energy and Utilities Market Size, By Application, 2017–2024 (USD Million)
Table 45 Asia Pacific: Transportation and Mobility Market Size, By Application, 2017–2024 (USD Million)
Table 46 Asia Pacific: Government and Defense Market Size, By Application, 2017–2024 (USD Million)
Table 47 Asia Pacific: Healthcare and Life Sciences Market Size, By Application, 2017–2024 (USD Million)
Table 48 Asia Pacific: Banking, Financial Services, and Insurance Market Size, By Application, 2017–2024 (USD Million)
Table 49 Asia Pacific: Retail Market Size, By Application, 2017–2024 (USD Million)
Table 50 Asia Pacific: AI in IoT Market Size, By Country, 2017–2024 (USD Million)
Table 51 Middle East and Africa: Data Traffic (Peta Bytes Per Month) Through Connected Devices
Table 52 Middle East and Africa: Market Size By Component, 2017–2024 (USD Million)
Table 53 Middle East and Africa: Market Size By Technology, 2017–2024 (USD Million)
Table 54 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 55 Middle East and Africa: Manufacturing Market Size, By Application, 2017–2024 (USD Million)
Table 56 Middle East and Africa: Energy and Utilities Market Size, By Application, 2017–2024 (USD Million)
Table 57 Middle East and Africa: Transportation and Mobility Market Size, By Application, 2017–2024 (USD Million)
Table 58 Middle East and Africa: Government and Defense Market Size, By Application, 2017–2024 (USD Million)
Table 59 Middle East and Africa: Healthcare and Life Sciences Market Size, By Application, 2017–2024 (USD Million)
Table 60 Middle East and Africa: Banking, Financial Services, and Insurance Market Size, By Application, 2017–2024 (USD Million)
Table 61 Middle East and Africa: Retail Market Size, By Application, 2017–2024 (USD Million)
Table 62 Middle East and Africa: AI in IoT Market Size, By Country, 2017–2024 (USD Million)
Table 63 Latin America: Market Size By Component, 2017–2024 (USD Million)
Table 64 Latin America: Market Size By Technology, 2017–2024 (USD Million)
Table 65 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 66 Latin America: Manufacturing Market Size, By Application, 2017–2024 (USD Million)
Table 67 Latin America: Energy and Utilities Market Size, By Application, 2017–2024 (USD Million)
Table 68 Latin America: Transportation and Mobility Market Size, By Application, 2017–2024 (USD Million)
Table 69 Latin America: Government and Defense Market Size, By Application, 2017–2024 (USD Million)
Table 70 Latin America: Healthcare and Life Sciences Market Size, By Application, 2017–2024 (USD Million)
Table 71 Latin America: Banking, Financial Services, and Insurance Market Size, By Application, 2017–2024 (USD Million)
Table 72 Latin America: Retail Market Size, By Application, 2017–2024 (USD Million)
Table 73 Latin America: AI in IoT Market Size, By Country, 2017–2024 (USD Million)
Table 74 Key Players of the Conversational AI Market, 2018


List of Figures (54 Figures)

Figure 1 Global AI in IoT Market: Research Design
Figure 2 Market: Top-Down and Bottom-Up Approaches
Figure 3 Market Snapshot By Component
Figure 4 Market Snapshot By Technology
Figure 5 Market Snapshot Manufacturing Vertical
Figure 6 AI in IoT Market Snapshot, Transportation and Mobility Vertical
Figure 7 Market Snapshot Energy and Utilities Vertical
Figure 8 Market Snapshot Government and Defense Vertical
Figure 9 Market Snapshot BFSI Vertical
Figure 10 Market Snapshot Retail Vertical
Figure 11 Market Snapshot By Vertical
Figure 12 Market Snapshot By Region
Figure 13 to Efficiently Process the Vast Amount of Real-Time Data That Stream From IoT Devices is One of the Major Factors Driving the Overall Growth of the AI in IoT Market During the Forecast Period
Figure 14 Transportation and Mobility Vertical to Grow at the Highest CAGR During Forecast Period
Figure 15 North America to Hold Highest Market Share in 2019
Figure 16 Platforms, and Machine Learning and Deep Learning Segments in North America Accounted for the Largest Shares in the AI in IoT Market in 2019
Figure 17 Drivers, Restraints, Opportunities, and Challenges: AI in IoT Market
Figure 18 Software Solutions Segment to Witness the Highest CAGR During the Forecast Period
Figure 19 Natural Language Processing Segment to Witness A Higher CAGR During the Forecast Period
Figure 20 Transportation and Mobility Vertical to Witness the Highest CAGR During the Forecast Period
Figure 21 Process Optimization Segment in the Manufacturing Vertical to Record the Highest CAGR During the Forecast Period
Figure 22 Smart Grid Management Segment to Grow at the Highest CAGR During the Forecast Period
Figure 23 Asset Tracking and Performance Management Segment to Grow at the Highest CAGR During the Forecast Period
Figure 24 Payment Transaction Security Segment to Account for the Highest CAGR During the Forecast Period
Figure 25 Autonomous Defense System Segment to Account for the Highest CAGR During the Forecast Period
Figure 26 Smart Stores Segment to Account for the Highest CAGR During the Forecast Period
Figure 27 Personalized Treatment Segment to Grow at the Highest CAGR During the Forecast Period
Figure 28 North America to Hold the Largest Market Size During the Forecast Period
Figure 29 Japan to Hold the Highest CAGR During the Forecast Period
Figure 30 Asia Pacific to Hold the Highest CAGR During the Forecast Period
Figure 31 North America: Market Snapshot
Figure 32 Transportation and Mobility Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 33 Transportation and Mobility Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 34 Asia Pacific: Market Snapshot
Figure 35 Transportation and Mobility Vertical to Grow at the Highest CAGR in APAC During the Forecast Period
Figure 36 Transportation and Mobility Vertical to Grow at the Highest CAGR During Forecast Period
Figure 37 Transportation and Mobility Vertical to Grow at Highest CAGR During Forecast Period
Figure 38 Global Conversational AI Market (Global) Competitive Leadership Mapping, 2018
Figure 39 IBM: Company Snapshot
Figure 40 SWOT Analysis: IBM
Figure 41 Microsoft: Company Snapshot
Figure 42 SWOT Analysis: Microsoft
Figure 43 Google: Company Snapshot
Figure 44 SWOT Analysis: Google
Figure 45 PTC: Company Snapshot
Figure 46 SWOT Analysis: PTC
Figure 47 AWS: Company Snapshot
Figure 48 SWOT Analysis: AWS
Figure 49 Oracle: Company Snapshot
Figure 50 SWOT Analysis: Oracle
Figure 51 GE: Company Snapshot
Figure 52 Salesforce: Company Snapshot
Figure 53 SAP: Company Snapshot
Figure 54 Hitachi: Company Snapshot

The study consists of 4 major activities to estimate the current market size of the AI in IoT market. An exhaustive secondary research was done to collect information about the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, the market breakup and data triangulation procedures were used to estimate the market size of the segments and sub segments of the AI in IoT market.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers and Bloomberg BusinessWeek have been referred to for identifying and collecting information for this study. Secondary sources included annual reports; press releases and investor presentations of companies; whitepapers, certified publications, and articles by recognized authors; gold standard and silver standard websites; Research and Development (R&D) organizations; regulatory bodies; and databases.

Primary Research

Various primary sources from both supply and demand sides of the AI in IoT market were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, related key executives from various vendors of AI in IoT solutions, associated service providers, and system integrators operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

The following is the breakup of the primary respondents’ profile:

AI in IoT Market

To know about the assumptions considered for the study, download the pdf brochure

AI in IoT Market Size Estimation

For making market estimates and forecasting the AI in IoT market and the other dependent submarkets, the top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global AI in IoT market using key companies’ revenue and their offerings in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the market were identified through extensive secondary research.
  • The market size, in terms of value, was determined through primary and secondary research processes.
  • All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.

Data Triangulation

With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.

Report Objectives

  • To define, describe, and forecast the size of the AI in IoT market by component (platforms, software solutions, and services), technology (Machine Learning [ML] and Natural Language Processing [NLP]), platforms (device management, application management, and connectivity management), software solutions (real-time streaming analytics, security, data management, remote monitoring, network bandwidth management, and edge), service (professional services [deployment and integration, support and maintenance, and training and consulting] and managed services), vertical (manufacturing, energy and utilities, transportation and mobility, Banking, Financial Services, and Insurance [BFSI], government and defense, retail,  healthcare and life sciences, and others (telecom, education, and tourism and hospitality)), and region (North America, Europe, Asia Pacific [APAC], Latin America, and Middle East and Africa [MEA])
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the AI in IoT market
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of the AI in IoT market
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the AI in IoT ecosystem
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To analyze strategic approaches, such as product launches, acquisitions, contracts, agreements, and partnerships, in the AI in IoT market

Scope of the Report

Report Metrics

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Billion (USD)

Segments covered

Components, Technologies, Verticals, and Regions

Geographies covered

North America, Europe, APAC, Latin America, and MEA

Companies covered

Google (US), Microsoft (US), IBM (US), AWS (US), Oracle (US), SAP (Germany), PTC (US), GE (US), Salesforce (US), Hitachi (Japan), Uptake (US), SAS (US), Autoplant Systems Pvt Ltd. (India), Kairos (US), Softweb Solutions (US), Arundo (US), C3 IoT (US), Anagog (Israel), Imagimob (Sweden), and Thingstel (India)

This research report categorizes the AI in IoT market based on components, technologies, verticals, and regions.

Based on Components, the AI in IoT market has the following segments:

  • Platforms
  • Software Solutions
  • Services
    • Professional Services
      • Deployment and Integration
      • Support and Maintenance
      • Training and Consulting
    • Managed Services

Based on Technologies, the AI in IoT market has the following segments:

  • ML and Deep Learning
  • NLP

Based on Verticals, the AI in IoT market has the following segments:

  • Manufacturing
  • Energy and Utilities
  • Transportation and Mobility
  • BFSI
  • Government and Defense
  • Retail
  • Healthcare and Life Sciences
  • Telecom
  • Others (agriculture, education, telecom, and tourism and hospitality)

Based on Regions, the AI in IoT market has the following segments:

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakup of the North American AI in IoT market
  • Further breakup of the European market
  • Further breakup of the APAC market
  • Further breakup of the Latin American market
  • Further breakup of the MEA market

Company Information

  • Detailed analysis and profiling of additional market players up to 5
Report Code
TC 7047
Published ON
Apr, 2019
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